Exercise of Options

RNS Number:0175N
Research Pharmaceutical SRV, Inc
31 January 2008

January 31, 2008

                     ReSearch Pharmaceutical Services Inc.

   Issue of new Shares in connection with tender of Unit Purchase Options 
                             and exercise of Options

ReSearch Pharmaceutical Services, Inc. (the "Company"), a leading provider of
clinical development outsourcing solutions to the biopharmaceutical industry,
announces today the issue of 343,165 new shares of common stock of $0.0001 each
("Shares"). Of these, 336,000 Shares relate to the completion of the tender of
Unit Purchase Options under the terms of the Revised Sunrise Option Tender (as
described in the Second Supplement to the Company's Original Re-admission
Document dated August 20, 2007) and are subject to lock-in arrangements under
which the holders have agreed, subject to certain exceptions, not to dispose of
such Shares for a period of two years from the date of admission of such Shares
to trading on AIM. The remaining 7,165 new Shares relate to the exercise of
outstanding employee share options at an average exercise price of $0.69 per
Share.

Application has been made for the admission to trading on AIM of 343,165 new
Shares and dealings in the new Shares are expected to commence on February 5,
2008. The new Shares rank pari passu with the Company's existing issued Shares.

Following this issue, the Company will have outstanding 32,542,388 Shares and
1,357,179 Warrants (as defined in the Company's Readmission Document dated June
5, 2007)(1).

Pangaea One Acquisition Holdings I, LLC ("Pangaea") has today notified the
Company that following such issue it will hold, directly or indirectly,
9,237,673 Shares representing approximately 28.4% of the Company's outstanding
Shares. In addition, Pangaea holds 100,000 Warrants representing approximately
7.4% of the outstanding Warrants.

(1) These figures exclude the remaining 186,667 Unit Purchase Options and
approximately 2.8 million employee stock options which also remain outstanding.

For further information please contact:

ReSearch Pharmaceutical Services, Inc.:                   [phone]
Daniel M. Perlman, Chairman & Chief Executive Officer
Steven Bell, Chief Financial Officer

Nominated Adviser and UK Broker:                         [phone]
Arbuthnot Securities Limited
James Steel/Richard Tulloch



                      This information is provided by RNS
            The company news service from the London Stock Exchange

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